STANDARD INSURANCE COMPANY.

Auckland Star, Volume X, Issue 2922, 26 August 1879, Page 3

STANDARD INSURANCE COMPANY.

The following is the half-yearly report and balance-sheet of the Standard Eire and Marine Insurance Company of New Zcalaud to be submitted at the half-yearly meeting of shareholders, to be held at the Temperance Hall, Dunedin, on Monday, Ist September: — REi'OKT.—Tho directors beg to submit for consideration of the shareholders the annexed balance-sheet for half-year ending30th June last, Owing.to the grcaOdepression iv business and the heavy losses sustained by the company during the past half-year, the directors exceedingly regret that they cannot recommend the payment of a dividend upon the present occasion. Liabilities.—Tocapitnlaccouiit, £75,000; less calls unpaid, £1,161 Bs-£73,838 12s;' reserve fund, £25,000; sundry credits as per ledger, £3,242 15s 7d; bank, £9,538 19s Kid; balance, £5,04413s Gd : total, £116,665 lid. Assets.—By investments, £96,39717s 4d; premises and office furniture, £4,552 Is 8d; cosh at agencies and outstandiug, £15,715 Is lid : total, £116,665 0s lid. Profit and Loss Account.—To fire and marine losses, £45,486 18s 3d; commission, salaries, and charges, £7,943 2s lOd; balance, £5,044 13s 6d : total, £58,474 14s 7d. By balance, December, 1879, £23,010 2s lid ; less divided thou declared, £3,472 35—£19,537 19s Id ; nott premiums received, £35,119 2s 6d; iutorost and transfer fees, £3,817 12s 2d: total, £58,474 14s 7d.